Nvidia confirms that it's all up in the Switch 2
Briefly

The Nintendo Switch 2 is powered by a custom Nvidia processor, allowing it to achieve impressive performance benchmarks such as 120 frames per second in handheld mode and 4K at 60 frames per second while docked. Nvidia confirmed their partnership with Nintendo, revealing features like G-Sync support, a 7.9-inch 1080p LCD display, and significant graphical enhancement capabilities including ray tracing and DLSS. The Switch 2 promises a leap in quality with tenfold graphical performance over its predecessor, enhanced by AI-driven features such as background removal in GameChat.
With 1,000 engineer-years of effort across every element - from system and chip design to a custom GPU, APIs and world-class development tools - the Nintendo Switch 2 brings major upgrades.
Nvidia shared that the Switch 2 has "10x the graphical performance of the Nintendo Switch," and that it uses DLSS to upscale graphics in games.
Read at Polygon
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